Core Insights - The article emphasizes the importance of patience and focus in business, as exemplified by Cao Dewang's leadership at Fuyao Glass, which has become a global leader in the automotive glass industry with a market share of 34% [3][4]. Financial Performance - In 2023, Fuyao Glass reported a revenue of 33.16 billion yuan, a year-on-year increase of 18.02%, and a net profit of 5.629 billion yuan, up 18.37%, with a gross margin of 35.39% and a net margin of 16.98% [4]. - For 2024, the company expects revenue to reach 39.25 billion yuan, reflecting an 18.4% growth, and a net profit of 7.5 billion yuan, which is a 33.2% increase [5]. Business Philosophy - Cao Dewang's approach is characterized by a deep respect for business fundamentals, focusing on core competencies rather than diversifying into unfamiliar areas, as demonstrated during the 2008 financial crisis when he rejected lucrative real estate opportunities to maintain focus on glass production [16][18]. - The company maintains a low debt ratio, consistently below 30%, compared to the industry average of 50%, which has provided stability during economic downturns [17]. Research and Development - Fuyao Glass invests significantly in R&D, allocating 6.3% of its revenue to this area, which is substantially higher than the manufacturing industry average of 1.5% and the global automotive parts average of 3.8% [19]. - The company has implemented innovative practices to enhance efficiency, such as recovering 100% of glass waste and optimizing material usage through AI, resulting in a 32% reduction in costs while improving product quality [20][21]. Employee Relations - Cao Dewang emphasizes the importance of treating employees with care and respect, believing that they are the true assets of the company. This philosophy has fostered loyalty and commitment among staff [53][62]. - The company has a history of supporting employees in need, as illustrated by its commitment to cover medical expenses for an employee diagnosed with leukemia, reflecting a culture of compassion and responsibility [50][51]. Industry Relationships - Fuyao Glass adopts a collaborative approach with suppliers and partners, understanding that mutual support is essential for long-term success. This strategy has helped the company secure reliable supply chains even during economic crises [67][71].

以下文章来源于智本社 ，作者清和社长 智本社 . 一家硬核学习社。 本文来自微信公众号： 智本社 ，作者：清和（智本社社长），题图来自：视觉中国 特朗普声称要尽快结束俄乌冲突，但他近两个月的表现，让世界大跌眼镜，抛开乌克兰、欧洲与俄罗斯谈 判，在白宫椭圆形办公室与泽连斯基吵架。尽管特朗普依然致力于俄乌和平，但做法却让很多人难以接 受。 实际上，想要真正理解特朗普的所作所为，不仅要尽量摆脱道德、立场、情绪与习惯的干扰，还需要足够 的真实信息、深度思考和智力水平。 每当谈到特朗普，各大群就容易陷入非理性的争议，甚至人身攻击，其实我不想分析，但考虑到泽连斯基 如果签署矿业协议，乌克兰可能面临悲剧式结局，我特意写此文，题为《协议的政治后果》，以致敬凯恩 斯的《和约的经济后果》。 一、乌克兰，何去何从？ 先说白宫"三总统吵架"事件。 这可能是白宫历史上首次，也是大国外交罕见的外交灾难。不少人大呼，堂堂美国总统全球直播吵架，第 一大国的政治体面荡然无存。 其实，我一点都不惊讶。早在六年前，我就已经做好准备接受一个"礼崩乐坏"的世界。更何况，特朗普上台 做任何事情，尤其是打破常规的事情，我都不会感到奇怪。 确实，我们习惯了 ...